Under the plan, the company that designs the iPhone and Amazon Kindle will provide assembly services for the DBA Monarch Tractor (Monarch Tractor) to build electric tractors and support the farm equipment company towards a sustainable generation.
Monarch Tractor Co-Founder & CEO, Praveen Penmetsa said that creating the most advanced tractor in the industry would require a manufacturing partner with experience to measure and execute quickly and with precision.
“Foxconn is a world-renowned EMS leader in manufacturing and solutions. We are proud to partner with Foxconn and work together to change the future of agriculture,” he explained, quoted on his official website, Wednesday (10/8/2022).
The electric tractor will be built on the basis of the Monarch Tractors Mk-V Series tractor and will be produced on a full scale starting in the first quarter of 2023. Meanwhile, the Monarch’s Founder Series will be produced in the fourth quarter of 2022.
Foxconn will assist the company with production of electric tractors at its 6.2 million-square-foot facility in Ohio, USA, which it purchased from Lordstown Motors in May for $230 million.
Liu Muda, Chairman of Hon Hai Technology Group (Foxconn), also said that with its partnership with Monarch Tractor, Foxconn is excited to contribute to its ongoing and future success, its products and customers.
“This partnership reflects Foxconn’s growing center of gravity for autonomous electric vehicle production and the potential that can emerge from forward-thinking collaborations,” he said.